CCAA Statistics in Canada—Fourth Quarter of 2011

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Definitions

CCAA:

The Companies' Creditors Arrangement Act (CCAA) is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs. CCAA proceedings are carried out under supervision of the courts.

Cross-Border Proceedings:

When a proceeding is filed in a foreign jurisdiction where the debtor company has the centre of its main interests, it is referred to as a foreign main proceeding. Proceedings brought before any other court would generally be referred to as foreign non-main proceedings.

North American Industry Classification System (NAICS):

The NAICS is an industry classification system that classifies economic units that have similar production processes in the same industry. This is a supply-based or production-oriented economic concept.

Table 1: Total CCAA Proceedings
  Volume +/- Change
October
2011		 November
2011		 December
2011		 Total
Q4 2011		 Total
Q4 2010		 Q3 2011 –
Q4 2011		 Q4 2010 –
Q4 2011

Footnotes

  1. 1 Proceedings filed are counted according to the date when Form 1, Information Pertaining to the Initial Order, was filed with the OSB. (back to footnote reference 1)
  2. 2The percentage of total liabilities attributable to trust claims and contingent liabilities is not reflected in this table. (back to footnote reference 2)
  3. 3Total consolidated liabilities and assets for Q4 2010 include $19 750 157 970 and $22 251 130 090 respectively with regards to the Japanese Airlines International Co., Ltd. recognition proceeding. (back to footnote reference 3)
Proceedings FiledFootnote 1
Number of Proceedings Filed 2 4 10 16 8 +6 +8
Number of Filing Affiliates 6 50 20 76 155 +55 -79
Total of Debtor Companies and Filing Affiliates 8 54 30 92 163 +61 -71
Public/Private
Proceedings by Publicly Traded Debtor Companies 1 2 1 4 1 0 +3
Proceedings by Privately Held Debtor Companies 1 2 9 12 7 +6 +5
Cross-Border Proceedings
Foreign Main Proceedings 0 0 1 1 3 0 -2
Foreign Non-Main Proceedings 0 0 0 0 0 - 0
Liabilities ($millions)Footnote 2
Book Value of Total Consolidated LiabilitiesFootnote 3 72.871 345.981 470.469 889.321 22 995.71 -5 949.207 -22 106.389
% of Secured Liabilities 26.00 58.11 40.25 45.99 72.53 - -
% of Unsecured Liabilities 74.00 41.89 59.75 54.01 22.22 - -
Assets ($millions)
Book Value of Total Consolidated Assets 87.896 489.477 322.288 899.661 24 838.87 -4 013.936 -23 939.209
Table 2: CCAA Proceedings Filed by Province
  Volume +/- Change
October
2011		 November
2011		 December
2011		 Total
Q4 2011		 Total
Q4 2010		 Q3 2011 –
Q4 2011		 Q4 2010 –
Q4 2011
Newfoundland and Labrador - - - - - - -
Prince Edward Island - - - - - - -
Nova Scotia - - - - - -1 -
New Brunswick - - - - - - -
Quebec - 1 2 3 2 -1 +1
Ontario - 1 4 5 3 +3 +2
Manitoba - - - - - - -
Saskatchewan - - - - - - -
Alberta - 1 2 3 1 +1 +2
British Columbia 2 1 2 5 2 +4 +3
Northwest Territories - - - - - - -
Yukon - - - - - - -
Nunavut - - - - - - -
Table 3: CCAA Proceedings Filed by NAICS Economic Sector, CanadaFootnote 4
  Volume +/- Change
Q3 2011 –
Q4 2011
October
2011		 November
2011		 December
2011		 Total
Q4 2011

Footnotes

  1. 4 More than one NAICS code can be reported by debtor companies undergoing CCAA proceedings. (back to footnote reference 4)
Agriculture, Forestry, Fishing and Hunting 1 - 1 2 +2
Mining and Oil and Gas Extraction - 1 1 2 0
Utilities - - - - -
Construction - - 1 1 +1
Manufacturing - 1 3 4 +2
Wholesale Trade - - - - -1
Retail Trade 1 - 2 3 +2
Transportation and Warehousing - - - - -
Information and Cultural Industries - - - - -
Finance and Insurance - - - - -1
Real Estate, Rental and Leasing - 2 - 2 +1
Professional, Scientific and Technical Services - - - - -2
Management of Companies and Enterprises 1 - - 1 +1
Administrative and Support, Waste Management and Remediation Services - - - - -
Educational Services - - - - -
Health Care and Social Assistance - - - - -
Arts, Entertainment and Recreation - - 1 1 +1
Accommodation and Food Services - - - - -1
Other Services (except Public Administration) - - 1 1 +1
Public Administration - - - - -